Newgioco Group, Inc. (“Newgioco” or the “Company”) (NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, today announced that it has expanded its distribution network to 2,010 webshop locations in Italy by adding another 509 new locations during the second quarter, repeating its successful growth in the first quarter of 2019.
Year-to-date, Newgioco has added 1,010 total locations in Italy to its base of 1,000 locations at December 31, 2018, doubling its retail footprint and expanding its online market share. As a result, Newgioco has now reached an all-time high for webshop locations, and now has one of the largest webshop distribution offering sports betting in the competitive and highly regulated Italian market.
“The stability and popularity of our ELYS sports betting platform is enabling rapid organic growth throughout Italy,” stated Newgioco VP of Operations, Alessandro Marcelli. “Overall, we expect continued growth in our retail footprint, and anticipate generating 25-30% growth in handle for the full year as locations stabilize following the conversion to the Newgioco platform and as the soccer season commences during the second half of this year.”
“This progress is driving brand recognition and increasing our online channel volume as a direct result,” added Newgioco CEO, Michele (Mike) Ciavarella. “We continue to leverage our solid footing in Italy and market experience as we seek to enter the U.S. market. The success in Italy should serve as a vital proof point for operators in the United States, helping us to position Newgioco in competitive tenders as the number of states regulating sports betting expands.”